Scandal

6 years ago

News Corp. Shareholders: Ditch James

James Murdoch had a rough start to the week on Monday. First, the British Parliament called him back to testify about phone hacking at News International. Then, a majority of News Corp.'s independent shareholders voted to remove him from the company’s board. That wasn’t enough to boot him, as the Murdoch family and the supportive Saudi Prince Alwaleed bin Talal control at least 47 percent of all shares. Still, 35 percent of all shareholders—and 67 percent of independent shareholders—voted against his reelection. His brother Lachlan hardly fared better, with 34 percent of all shareholders and 64 percent of independent shareholders voting against him. Rupert Murdoch, however, was better off than his sons: 86 percent of shareholders voted to reelect him to the board.